Toray Industries says its wholly owned Toray Advanced Materials Korea (TAK; Seoul) subsidiary has secured preferential negotiating rights for acquiring a 56.2% stake in Woongjin Chemical (Seoul). Toray says it will announce the outcome of the negotiations when a decision is reached. Woongjin Chemical, which was established in 1972, manufactures products such as high-performance fibers, reverse osmosis membrane filters for water treatment, and polyethylene terephthalate sheets. The 56.2% stake in Woongjin Chemical that Toray could acquire includes a 46.3% stake...